In this report, Technavio
covers the market outlook and growth prospects of the globaltransformer
monitoring solutions marketfor 2016-2020. The market is
further categorized into the following two application segments:
distribution transformers and power transformers, with the distribution
transformers segment accounting for a larger share of the market.

“Globally, affordable and reliable electricity supply is central to
economic growth in both developed and developing countries. Transformers
are expensive and play a pivotal role in transmission and distribution
of electricity as a result of which their operation requires continuous
monitoring. Transformer monitoring solutions enable power utilities to
gauge a transformer's condition and perform preventive maintenance to
prevent outages. Thus, transformer monitoring solutions prevent loss of
devices as well as service,” says Anju Ajaykumar, a lead unit
operations research expert from Technavio.

Technavio’s research study segments the global transformer monitoring
solutions market into the following regions:

APAC

Americas

EMEA

APAC: economic development coupled with a vast manufacturing sector
to boost growth

The transformer monitoring solutions market in APAC is projected to
exceed USD 3 billion by 2020, growing at a CAGR of over 41% during the
forecast period. Economic development coupled with a vast manufacturing
sector in APAC countries has led to a continuous demand for electricity
supply in order to keep up production schedules. Also, these countries
have rapidly growing populations, with a large section of the rural
population migrating to urban areas. China, for instance, has already
surpassed the US as the world’s largest electricity consumer, and its
demand is projected to grow by more than 140% from 2010 to 2040.

The rise in demand for electricity has resulted in setting up of many
transformers to enhance power distribution. These large networks of
transformers require constant monitoring to prevent power breakdowns in
transmission and the resulting outages. Therefore, these countries will
need to employ effective and efficient monitoring systems for these
transformers.

Demand from end-users in the industrial, commercial, and residential
sectors is increasing continuously and will spur power utilities to
expand their networks. Installation of distribution transformers is a
major task in this expansion process, as this process includes not only
expansion of distribution transformer networks but also the renovation
of old distribution transformers. This will drive the growth of the
overall distribution transformer market during the forecast period.

The transformer monitoring solutions market in the Americas is predicted
to reach USD 1.4 billion in 2020, growing at a CAGR of over 30% during
the forecast period. In the US and Canada, the aging power
infrastructure will contribute to the growth of the transformer
monitoring solutions market. In most utilities, secondary distribution
transformers constitute a majority of the assets. Therefore, asset
management programs take care of the maintenance and support of these
aging transformers through real-time data that transformer monitoring
solutions offer. This and other critical information is vital for
utilities to take preventive action before any damage is caused to the
transformer. This will enable utilities to not only meet the demand for
electricity from end-users but also increase their overall revenue.

In the rest of the Americas, particularly the developing Latin American
countries such as Brazil and Argentina, demand for electricity is driven
by rapid economic growth. As these countries offer low labor and
operational costs besides close proximity to key markets, major
manufacturing companies are shifting their manufacturing operations to
these countries. This has resulted in the need to expand electricity
grids and to set up more substations to ensure efficiency in
transmission. “As power transformers are an integral part of
transmission networks and substations, the demand for them will
subsequently rise, thereby driving the demand for power transformer
monitoring solutions in the region,” says Anju.

EMEA: increasing investment in power infrastructure to boost growth

The transformer monitoring solutions market in EMEA is expected to reach
USD 1.24 billion by 2020, growing at a CAGR of 32%. In Europe,
increasing investment in power infrastructure is expected to drive the
growth of the market, as the aging power generation and distribution
networks are unable to meet the present demand for electricity. Power
utilities in European countries are projected to spend 1 trillion euros
by 2020 for maintenance and upgrading activities related to these
networks.

In EMEA, countries such as the UK, Germany, and some others in the
Middle East have extensive transmission and distribution (T&D) networks.
Therefore, there is a huge demand for distribution transformers in these
countries, which is expected to increase, following efforts by utilities
to expand and renovate these networks. These activities will boost the
demand for distribution transformer monitoring solutions in the region.

Some of the top vendors in the global transformer monitoring solutions
highlighted in the report are:

Purchase these three reports for the price of one by becoming a
Technavio subscriber. Subscribing to Technavio’s reports allows you to
download any three reports per month for the price of one. Contact enquiry@technavio.com
with your requirements and a link to our subscription platform.

About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

If you are interested in more information, please contact our media team
at media@technavio.com.